In today’s stock of the day, let’s turn our attention to PayPal, which is hanging on by a thread at its final key support level.
The downtrend has been persistent since early December, with price action breaking through two critical support levels along the way. The first was the orange horizontal support, which gave way at the end of March. Shortly after, the green uptrend line—connecting higher lows—was breached at the beginning of April. Both breaks have confirmed a clear bearish tone.
Now, all eyes are on the yellow support zone around $57.20, which served as a crucial floor throughout 2024. The price is currently testing this level, and a daily close below it would serve as a strong confirmation of a long-term sell signal, potentially opening the door for a move toward the 2023 lows—or even a break beneath them.
The sentiment remains firmly negative as long as the price trades below the orange resistance, the last broken support. Only a daily close back above that orange zone would neutralize the bearish outlook and give bulls a reason to re-enter, possibly triggering a rebound setup.